The Federal Reserve recently raised interest rates, U.S. stocks are tumbling and new worries about the Chinese economy seem to emerge daily. So go ahead and buy that house you’ve been looking at, notes MarketWatch reporter Jeffrey Bartash.Read more >
Bartash observes that "safe haven" retreats from stocks into bonds have had an effect on interest rates for mortgages, pushing them lower. Bartash writes that housing could be the tonic the economy needs to get out of its panic-mode over China's troubles.
The housing market had already been steadily gaining ground even before the latest drop in rates. Indeed, it’s been one of the strongest parts of the economy over the past year. Sales of new and previously owned homes are likely to finish 2015 at the highest level since before the Great Recession.